By: Patrick J Gunning

Building lists can very well be your ticket to a regular and lucrative passive income.

As you may have heard “The Money is in the List”. The biggest mistake a marketer can make is to market a product to a customer and then quickly move on to the next customer while forgetting about the last. It’s called the “One Shot Sale” or “Hit and Run Marketing” where you just market, market and then market again.

A better way is “Relationship Marketing”. Here, you build a relationship with your prospects, than convert them into long time customers. This gives you the opportunity to create a dependable income by attending to your customer’s needs and wants while building loyalty. At the same time, you can continue to market to new prospects building your business even larger.

Studies have shown that a customer is 10 to 20 time more valuable that a prospect. Why, it is simple. You customer has proven themselves to be a buyer. You have already discovered what their interests are, so offering more similar or related products or services is likely to result in more sales.

List building is the important step between first contact and the closed sale.

It is important to consider this! If you market other company’s products the possibility exists that at some point in time they may no longer be available. You however, have established a relationship with your clients and they may very well follow you to the next similar product.

What about those prospects that did not make a purchase? They still have value. They were attracted to your initial offer so you have some idea about their interests. There may be another product or service they were looking for that you can provide.

If so, you now have another customer!

Take the time to start building lists after all they really are the businessman’s “Pot of Gold”.

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